Nektar Therapeutics has agreed to settle a patent suit filed by the University of Alabama in Huntsville for $25 million. The dispute centered on the work of Milton Harris, who started a company Nektar bought five years ago for $197 million. Harris had worked at the university and the university claimed ownership of Harris' patents. In the agreement, Nektar and Harris jointly paid $15 million to the university while Nektar agreed to pay $1 million a year for 10 years. In return, the university is dropping its claims to the PEGylation patent portfolio.
- here's the AP report [1] on the settlement
Links:
[1] http://www.chron.com/disp/story.mpl/ap/fn/4030784.html